Last Frontier KPBM March 2015
Bank branches are changing, but not going away. A regional director’s tips for SBA loans and our feature, Last Frontier explores how a national bank’s recession failure sent local companies scrambling as foreclosures came down.
Bank branches are changing, but not going away. A regional director’s tips for SBA loans and our feature, Last Frontier explores how a national bank’s recession failure sent local companies scrambling as foreclosures came down.
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regional economy | john powers<br />
Confluence of attributes creates economic future<br />
From the strategic confluence of four<br />
primary community attributes (population,<br />
land use, transportation and commerce)<br />
springs a community’s<br />
economic future.<br />
<strong>Last</strong> October I wrote<br />
about how communities<br />
across Kitsap are in the<br />
process of shaping Kitsap’s<br />
economic future as<br />
they update their longrange<br />
comprehensive plans<br />
(www.kitsapsun.com/kpbj/areas-compplan-udates).<br />
I talked about the purpose<br />
of community comprehensive planning in<br />
order to anticipate and effectively manage<br />
growth; and, how to assess, align and<br />
aim community resources at a targeted<br />
future.<br />
I also shared my perspective on the importance<br />
of garnering meaningful input<br />
from all the various community stakeholders;<br />
in particular, the business community<br />
as ongoing investors in our collective<br />
economic future. Over the past six<br />
months, a great deal has already occurred<br />
in the process of updating our comprehensive<br />
plans, and much more will follow<br />
in the next fifteen.<br />
<strong>Last</strong> fall our Alliance provided market<br />
data regarding our local economy at a series<br />
of town-hall meetings hosted by the<br />
county throughout Kitsap. In October our<br />
Decision Makers II event focused on the<br />
economic development aspects of projected<br />
growth in the unincorporated urban<br />
growth area of Silverdale. At our December<br />
board meeting in Port Orchard, we<br />
MARCH <strong>2015</strong> | 37<br />
captured valuable input from many of the<br />
largest private-sector employers in Kitsap<br />
as to their future needs involving transportation,<br />
infrastructure, workforce, zoning<br />
and building permits, and maintaining<br />
an overall vibrant business climate.<br />
And, at our Alliance’s annual economic<br />
forecast conference in January, we conducted<br />
a web-based “instant survey” in<br />
which scores of attendees provided direct<br />
and instantaneous input on a variety of<br />
questions pertaining to planning for Kitsap’s<br />
economic future.<br />
This survey yielded some predictable<br />
and not-so-predictable responses. The<br />
majority of respondents deemed the overall<br />
business climate in Kitsap as average<br />
to good (less than 5 percent ranked it as<br />
poor). Most employers anticipated growing<br />
and hiring more FTE’s this year —<br />
matching the overall perception that Kitsap’s<br />
economy is growing. And when it<br />
came to identifying priorities in advancing<br />
business opportunities, one out of<br />
three identified “skilled workforce” as<br />
their top priority.<br />
On the not-so-predictable inputs, the following<br />
selections surprised many as they<br />
gleaned the immediate inputs: technology<br />
see future | 38<br />
market | from 27<br />
zoning change that would allow buildings<br />
of that height along Bay Street.<br />
“What he really wants to see,” Ryan<br />
said, “is he wants the market to succeed,<br />
he wants the retail to succeed — he wants<br />
the first one to two levels of every building<br />
to be retail. And maybe a level of professional<br />
(offices), and the rest of them<br />
adult-living condos.<br />
“People who want to be in a downtown<br />
core, who want to be near the marinas,<br />
who want to have views, and have the<br />
money to do it. And those are the people<br />
who are going to support the market.”<br />
Will the market make it?<br />
Brozovic said he suggested ways to generate<br />
more sales at Bay Street Meat Co.,<br />
such as adding a smoker at the shop, doing<br />
barbecue outside in the vacant lot<br />
next to the market and setting up an offsite<br />
game processing operation. But nothing<br />
came of the ideas.<br />
Ryan said city codes won’t allow a smoker<br />
in the market, though he recently spent<br />
almost $10,000 on “a custom-built smoker/<br />
rotisserie/grill, on a custom-made trailer,”<br />
which will be used off-site since there’s<br />
currently not space for it at the market.<br />
It could be used as part of Hogfest, a barbecue<br />
cook-off that Ryan envisions as a<br />
countywide event and a big promotion for<br />
the market in <strong>2015</strong>.<br />
Weekend special events held in recent<br />
months to draw people to the market have<br />
been organized by Katie King, who’s part<br />
of the family-run seafood business. One<br />
event was a chowder cook-off that Northwest<br />
Seafood & Wine planned to host in<br />
February, but it was canceled.<br />
The seafood shop owners would not<br />
comment on the status of their business<br />
or whether they plan to stay at the market,<br />
but some of the smaller vendors remain<br />
optimistic that the market can thrive.<br />
Though he’s no longer part of it, Brozovic<br />
hopes that will happen.<br />
“I wish them all the success,” he said.<br />
“I would love to see that market actually<br />
make it.”<br />
As for Ryan, he remains enthused about<br />
the market venture, and prospects for future<br />
development downtown. Ryan said<br />
after the recent news of Tommy C’s having<br />
to move out of its site off Bethel Road,<br />
he talked to owner Tommy Cash about relocating<br />
his restaurant and bar into the<br />
Myhre’s building.<br />
That wasn’t feasible, but Ryan said he<br />
and Samadpour are looking for a tenant<br />
there and plan to improve the building’s<br />
exterior appearance. That includes connecting<br />
the roof of Myhre’s to the market<br />
building to cover the vacant lot in between,<br />
which Ryan said could allow for a<br />
possible expansion of the market.<br />
“The thing is, what I will give Don, he<br />
is a dreamer,” Brozovic said. “And he is a<br />
guy that can look at something and go …<br />
what can I do here?”<br />
Brozovic is back on his feet again, and<br />
has returned to doing consulting work.<br />
He’s actually working on a project being<br />
built in Everett, a six-story apartment/retail/farmers<br />
market development called<br />
Potala Market Place that’s similar to what<br />
Samadpour would like to develop in Port<br />
Orchard.<br />
The future in Port Orchard may or may<br />
not include condo developments that<br />
change the physical landscape. It’s unknown<br />
whether Ryan can recruit other<br />
small businesses to fill the current market<br />
vacancies. And the question remains<br />
on whether a marketing effort to attract<br />
wider interest can be implemented as<br />
the market’s second tourist season draws<br />
near.<br />
But according to Ryan, ever the pitchman<br />
for business ideas, the viability for<br />
his project beyond its challenging first<br />
year depends on community support.<br />
“If the local community doesn’t feel like<br />
this is a good enough attraction for them<br />
to come to, “ Ryan said, “we’re not going<br />
to get enough support to keep it alive.”